Calculate income from operations for the ended december

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Calculate income from operations and net income  Selected  information taken from the financial statements of Fordstar Co. for the year ended December 31, 2013, follows:

Net cash provided by operations

$  49,000

Cost of goods sold

155,000

Selling, general, and administrative expenses

62,000

Accounts payable

45,000

Dividends paid

68,000

Research and development expenses

15,000

Merchandise      inventory

39,000

Provision for income taxes

420,000

Net sales

32,000

Interest expense

 

a. Calculate income from operations (operating income) for the year ended December 31, 2013.

b. Calculate net income for the year ended December 31, 2013.

Reference no: EM13890945

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